Assam Government inks MoU with SBI to provide loan to employees

Assam Government has signed MoU with State Bank of India (SBI) to provide Housing and Educational Loan at subsidised interest rates to the employees of the state government. As per the MoU, state government will provide interest subsidy at the rate of 3.50% for housing loan and education loan at 4%. It will benefit state government employees in terms of interest rates and reduced EMI. It also has provisions for collateral free loan, Zero Margin, Zero Processing Fee with longer repayment tenure.